Leading vs. Lagging KPIs – What Successful Companies Measure

LeadingKPIOne of the definitions we have provided in this series was the definition of a Key Performance Indicator (KPI). Per author David Parmenter in his book “Key Performance Indicators”, A characteristic of a KPI is “non-financial in nature that can be measured daily yet can have a significant impact on operations”. For my financial colleagues, that can be a head scratcher as we are always thinking of P&L and Balance Sheet items for metrics which tend to be lagging KPs.Financial statements are merely the scorecard for the results of the KPIs. So what measures of performance can we use as leading indicators of potential issues? This blog will provide some examples. Read more of this post

Discovering New Ways to Reach Congress – How Social Media Can Raise Your Influence

social mediaApril 26, 2014– Earlier this year, I attended a presentation Harold Peterson (my father) gave at a local community center on Long Island on political reform in New York.  The audience included retired executives who were present to hear the many alarming political spending trends in the state.  Mr. Peterson, author of the website “Reform Albany Now Registry”, shared with the audience efforts to restore New York State to fiscal stability and provided several examples where state spending was not aligned with voter interests.  Several of the stories generated hardy laughs for the sheer incompetence of the system. Read more of this post

QuickBooks Business Analytics with webKPI

QuickBooks Business Analytics with webKPIwebkpi-logo_no-shadow.jpg

Sleeter Group Blogger Charlie Russell does a review on webKPI for the QuickBooks community. Read more of this post

Gross Profit KPIs: Tips to Beat the Margin

 “I never lost money turning a profit.”

Bernard Baruch wrote that straightforward statement about the importance of making a profiGross Profit KPIst. In order for any business to be healthy, it must have the best gross profit it can possibly achieve. Bottom line – it’s the number one thing that contributes to paying salaries, rent, marketing, and all the other activities involved in running a business. Yet, how many accountants even know what their gross profit percentage even is? Read more of this post

Why Business Coaches Should Implement KPIs

Author Alex Noble wrote in Sunshine through Shadows, “Success is not a place at which one arrives, but rather the TigerTailspirit with which one undertakes and continues the journey.” Most people enjoy a sequel, so to borrow from Hollywood, I’ll will continue the journey with guns blazing on how to implement Key Performance Indicators (#KPIs) by discussing why business coaches should implement KPIs. Read more of this post